I love and collect extremely low budget/no budget movies...
some are so low budget, they are shot on camcorders and editing on home PC's...most are very underground and contain some of the oddest, yet most original movies made.
I always check out
http://www.b-independent.com for newer releases and reviews that are generally spot on...
Just finshed watching "Gorotica"...holy shit, what a movie...a female necrophiliac, who also provides dead corpses for as sex toys, runs into a couple of jewelry thieves (one of whom is dead but has swallowed a valuable diamond that the other wants) and falls in love with the guy and the corpse....very fucked up movie...the chick is hot as hell and plenty of gore and nudity...people can take their "Titanic" and "Pearl Harbor" crap and I'll take underground cinema like this any day
)
Also, watched "Ice From The Sun" one of the best ever sci-fi films shot on video....there are some set pieces in that flcik that wouldn't seem possible with a budget 10 times what this director had to work with (and not bad considerin he's only 21). Even if you don't like cheesy horror/sci-fi flicks, this one is a must rent